reconciliation

A bank reconciliation compares general ledger balances to bank statements to identify discrepancies. It categorizes reconciling items between the GL and bank records, applying aging analysis to track outstanding items and escalate unresolved differences.

To reconcile intercompany accounts, initiate a period-end reconciliation run to compare matching balances across entities. The workflow categorizes reconciling items, applies aging analysis to identify stale discrepancies, and escalates items beyond threshold limits for review.

Yes, you can use this for bank reconciliations, GL-to-subledger reconciliations, and intercompany reconciliations. It compares GL balances against subledgers, bank statements, or third-party data, categorizing reconciling items and applying aging analysis across all supported reconciliation types.

The best way to categorize and age reconciling items is through structured reconciliation workflows that track items by type and duration. This approach applies aging analysis to flag items for escalation readiness, ensuring unresolved discrepancies are escalated when they exceed defined thresholds.

Aging analysis for reconciling items tracks the duration of outstanding discrepancies between GL balances and subledgers or bank statements. It categorizes items by age to determine escalation readiness, ensuring long-standing reconciling items are prioritized for review and resolution.